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Pápai Hús 1913 projects 11%-12% rise in revenue this year

Hungarian meat company Pápai Hús 1913 projects an 11%-12% yr/yr rise in revenue to around HUF 19 billion (€66.86 million) in 2010, the business daily Napi Gazdaság reported on Tuesday.

Pápai Hús 1913 financial manager Zoltánné Kiss told the newspaper that the company produced better-than-anticipated results in the first half of 2010 and expects to generate profit this year even after paying the interest on the HUF 5.5 billion loan Pápai Hús 1913 received from the state-owned Hungarian Development Bank to purchase the assets of bankrupt Pápai Hús in February 2009.

Pápai Hús 1913 expects to derive about HUF 15 billion of the company's projected 2010 turnover from domestic sales and HUF 4 billion from exports to the United States, Japan, Russia, Romania, Bulgaria, South Korea, Dubai and Gibraltar, Kiss said. (MTI-ECONEWS)